
Field of science researching coins and banknotes is called Numismatics. Coins are great source from you can research the financial and monetary system in the past. Coins are also good to explore the state symbols and personalities, for the coin often depicts state prominences and symbols.
Before the introduce of coin,prehistoric used barter to exchange various things. Barter was used in many prehistoric societies. When civilizations got more complicated they required more stable way of exchange. In Baltic lands, the most valuable piece of trade was amber. Amber is fossilized tree resin. It originates from deep pre-human times and can only found at coast of Baltic Sea. Mostly amber is found in Lithuania and Kalliningrad Oblast Russsia and at shores at Curland, Latvia. Ancient Greeks and Romans found amber very beautiful and useful for jewelry. Ancient Greek scientists found that amber can make electricity. First signs of amber trade was found Middle Neolithic Stone Age. At swamp village of Sārnate locals built amber manufacture. They exchanged amber for flint and shale work tools.

In Bronze Age early Latvians already maintained both st0ckraising and farming economy and craftsmanship. Now locals exchanged cattle, animal fur, amber to bronze casting and bronze tools. First deposits dates from this time.
First coins in Latvia comes from Roman Empire. Roman historian Tacitus in his Germania, writes that local Baltic tribes Aesti (probably Balts) receives money reward with wonder for their amber. It’s probably because local Balts did not know what to do with coin money, they view it as just as some pieces of metal. Despite that they kept and made deposits and took them in their graves, believing it could be valuable in afterlife. The main Roman value was Libra (pound). After fall of Roman Empire and chaos in Europe Latvia did not receive any coins until 8. century. The main currency was silver witch came from Russia and Scandinavia.

At 9. century Latvia received large amount of Arabian Dirhams. Arabian Caliphate was the main power in that time and it traded with Kievan Russ and the Dirhams came to Latvia on their way to Scandinavia. The museums in Moscow, Stockholm and Tallinn holds much more Dirhams than Eastern European museums. In island of Gotland 40 000 Dirhams has been found. In Latvia there has been 2 343 Dirhams located. Only 24 exemplars of Byzantine Empire currency silver miliaries.

In 10. century first Western European coins arrived at Latvian land. Silver Denars from Germany, Denmark, Moravia and Hungary. In Western Europe main silver mines were located at Germany and England. There were many types of coins because the rights of coin forging were for not only Kaisers, but also for dukes, counts and bishops. At 11. century the monetary crisis again made “no coin” period in Latvia. The main currency were silver bars. At this time the most deposits were found.
At 13. century when the age of Crusades emerged the new power re-established coins in Latvia. The new Livonian Confederation issued a Gotlandic currency the Marc of Riga (marca Rigensis). From middle of 13. century the main coins were one-sided Pheninngs. On coins were depicted the keys of Riga and crossed swords.
Because of inner political crisis in 14. century the coin forging was temporally stopped. When restarted the new currency was Lübeck Pfennigs. Lübeck was center of Hanseatic League, and Livonian cities were part of it. In 1422.-1426. monetary reform came to effect and Livonian Monetary Union started its work.
Currencies in Livonia were many. 1 Marc was 4 Verdins or 36. Shillings. Sometimes in Livonia silver Dalders and golden Ducats.


The monetary freedom of Livonia were canceled after fall of Livonian Confederation. New powers, Poles, Swedes and Russians issued new currencies. It will be disused in future.





